Arun More (Junior-Officer) 07 March 2012

How safe it is to buy propery in royal palms goregaon mumbai

Hi All,

I am planning to buy property (either resale or new construction) in Royal Plams aarey colony Goregaon (Mumbai) when i apporached HDFC for home loan they refuse saying that the area is under dispute as it is forest area and title is not clear.

when i visited the place there are many residential builings are there and builder said no such issue excist HDFC is not giving loan boz HDFC people are asking many documents from us and we are not providing due to security issue.

what should i do? i dont know wheather this problem w r t all the buildings or to specific buiding.

Plz help as i have already made a deal for selling my excising flat in virar for this deal and i am really worried.

Regards,

Arun

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6 Replies

ABHIJEET PARIKH (Bcom LLB MBA) 08 March 2012

several Months back even i had heard some problem with royal palms

banks do their proper due diligence before sanctioning any loan

see whether any other banks r ready to offer d finance for the project

Regards

Abhijeet

Arun More (Junior-Officer) 09 March 2012

Hi Abhijeeth thanks for the reply. i enquired at the Royal's off they said that the SBI is offering home loans for their project and also i heard from one of the agent that Axis is also fuding 80% of the flat cost. pls provide some more info in case you find if from somewhere. Regards, arun More.